B.S. Trading with Kenneth Lee | Page 222 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Day Trading vs. Swing Trading vs. Position Trading 86 replies

Attachments: B.S. Trading with Kenneth Lee
Exit Attachments

B.S. Trading with Kenneth Lee

  • #4,421
  • Oct 5, 2012 7:39am Oct 5, 2012 7:39am
lol anyone catch this then?
Attached Image (click to enlarge)
Click to Enlarge Name: aud.gif Size: 28 KB
  • #4,422
  • Oct 5, 2012 9:01am Oct 5, 2012 9:01am
Anyone in on a short GBPUSD at 1.6215 (stop at 1.6235) ?

First target aiming for 1.6160.

Comments welcome!
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD.jpg Size: 84 KB
  • #4,423
  • Oct 5, 2012 9:07am Oct 5, 2012 9:07am
Quoting EuroPipper
Anyone in on a short GBPUSD at 1.6215 (stop at 1.6235) ?

First target aiming for 1.6160.

Comments welcome!
No harm giving this a go. I'm short EU with a break even stop. At some point this might just drift lower and collect me some late afternoon pips.

If not then I'll call it a week.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 19 KB
  • #4,424
  • Oct 5, 2012 12:48pm Oct 5, 2012 12:48pm
As I can add skype to further discuss our live inputs?
I'm Spanish, I wonder if there is any group interested in speaking skype and speak English.
Sorry if my English is a bit slow, I'm from Spain.
But I'm very interested in supply and demand, I take two months following the thread and your posts, thanks ken lee
  • #4,425
  • Oct 5, 2012 2:39pm Oct 5, 2012 2:39pm
Quoting Infest
im watching for price action at this area... maybe a third indicator divergence joins to the trendline + supply level

1,6225


Attachment

who was in this trade? 100 pip drop today

i missed it by a few pips... PO arent always that great, signal came in a bit earlier.. oh welll
  • #4,426
  • Oct 7, 2012 8:59pm Oct 7, 2012 8:59pm
Attached Image (click to enlarge)
Click to Enlarge Name: AUD 10.07 Long 1M #1 Scalp.JPG Size: 106 KB


Came in with a MO hence the fill being above the demand level on the 1M. Waited a bit to see if we could get some rejection at this level
Given the spread at this time probably the best we could get . Remember we are scalping here. Entered 2 orders @ 2 lots each. We might ?? get to the top level, but odds are no. Trade moving in the desired direction.

Attached Image (click to enlarge)
Click to Enlarge Name: AUD 10.07 Long 1M #2 Scalp.JPG Size: 96 KB


Hit first level and we received clear rejection.. Exited all positions .. Total pipage = 19

Attached Image (click to enlarge)
Click to Enlarge Name: AUD 10.07 Long 1M #3 Scalp.JPG Size: 104 KB


Added screen shot as the market head back south.


Good trading to all

TSD
  • #4,427
  • Oct 8, 2012 2:25am Oct 8, 2012 2:25am
Just wanted to say thanks to Ken for the great thread. I have learned a lot reading through all the posts...took me 5 days of non-stop reading for 10hrs per day, but I did finally get through it all. Also thanks to other traders posting great analysis on here.

Will post some of my analysis one of these days.
  • #4,428
  • Oct 8, 2012 5:26am Oct 8, 2012 5:26am
Dear all,
I've been studying this thread for last few months. Just wanted to say thank you to ken and all other traders for this thread. The following gbp/usd trade is my first trade . My entry was long @1.6077(within 4hr fresh demand level) and stop was 1.6059 few pips below 4hr demand level but was stopped out. Don't know what's wrong so please help me because I'm newbie and keenly interested to learn supply and demand level.
Thank you
Attached Image (click to enlarge)
Click to Enlarge Name: GU.jpg Size: 287 KB
  • #4,429
  • Oct 8, 2012 6:05am Oct 8, 2012 6:05am
Morning guys. Some nice trades I see. Nothing so far for me but the GBPUSD is in a clear down move. No harm in taking something like this for a quick 2:1 even with spread.

You can even leave a position out there if this runs since there is no obvious demand target.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 20 KB
  • #4,430
  • Oct 8, 2012 6:08am Oct 8, 2012 6:08am
Quoting sariya
Dear all,
Don't know what's wrong so please help me because I'm newbie and keenly interested to learn supply and demand level.
Thank you
If you're going to trade off a H4 chart you need to be looking at the Daily and Weekly for directional guidance. Please analyse both of these and post back your findings.
  • #4,431
  • Oct 8, 2012 6:46am Oct 8, 2012 6:46am
Quoting C-12
You can even leave a position out there if this runs since there is no obvious demand target.
Same level update.

It eventually ran for 19 pips and initial risk was 3 pips. Pretty nice risk reward ratio there and these show up often.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd3.jpg Size: 74 KB
  • #4,432
  • Oct 8, 2012 6:58am Oct 8, 2012 6:58am
Thank you c-12 for reply but I took trade base in 30min chart and look direction in 4hr . In 4hr it closed above previous high and the demand level (in 4hr and 30min) also fresh and double bottom pattern as well so entered long but stopped out in few minutes .And c-12 you said GU is in downtrend.... How?? May be my understanding is wrong about look direction or selection of the level . Pls. help
thanks
Attached Image (click to enlarge)
Click to Enlarge Name: gu4hr.jpg Size: 286 KB
  • #4,433
  • Oct 8, 2012 7:03am Oct 8, 2012 7:03am
Quoting sariya
Pls. help
thanks
No problem. This is what I see. I start at weekly and daily see the GBPUSD recently hit supply and now heading lower.

Then I move down to the H4 and see this. That price level is certainly not fresh in my eyes.

You can see on the M30 chart that price did bounce here but there was no follow through due to the above directional bias.

Don't stress about it. Just keep practicing and it will come together.
Attached Image (click to enlarge)
Click to Enlarge Name: gbph4.gif Size: 26 KB
  • #4,434
  • Oct 8, 2012 7:39am Oct 8, 2012 7:39am
great chart ... clear now.. .Thanks c-12 .
  • #4,435
  • Oct 8, 2012 8:43am Oct 8, 2012 8:43am
Quoting C-12
No problem. This is what I see. I start at weekly and daily see the GBPUSD recently hit supply and now heading lower.

Then I move down to the H4 and see this. That price level is certainly not fresh in my eyes.

You can see on the M30 chart that price did bounce here but there was no follow through due to the above directional bias.

Don't stress about it. Just keep practicing and it will come together.
It was a second pullback from that big supply level so I don't expect it to go all the way down this time. My first potentially stronger bounce level is between 1.5910-60

edit: there is also a nice level on 1.5980-1.6000
  • #4,436
  • Oct 8, 2012 9:29am Oct 8, 2012 9:29am
Quoting C-12
Same level update.

It eventually ran for 19 pips and initial risk was 3 pips. Pretty nice risk reward ratio there and these show up often.
Very nice C-12.. Gotta love those smaller TF's

TSD
  • #4,437
  • Oct 8, 2012 3:15pm Oct 8, 2012 3:15pm
Quoting sariya
Thank you c-12 for reply but I took trade base in 30min chart and look direction in 4hr . In 4hr it closed above previous high and the demand level (in 4hr and 30min) also fresh and double bottom pattern as well so entered long but stopped out in few minutes .And c-12 you said GU is in downtrend.... How?? May be my understanding is wrong about look direction or selection of the level . Pls. help
thanks

This chart was not clear you had contradicting info. there are many trades to take. In the beginning look for only those that are crystal clear , when you start hitting those solid then branch out and try some of the more abstract trades.
Attached Image (click to enlarge)
Click to Enlarge Name: 114.jpg Size: 246 KB
Good Trading To All ; Ken Lee
  • #4,438
  • Oct 8, 2012 4:30pm Oct 8, 2012 4:30pm
Quoting Kenneth Lee
This chart was not clear you had contradicting info. there are many trades to take. In the beginning look for only those that are crystal clear , when you start hitting those solid then branch out and try some of the more abstract trades.

We I read this "branch out and try some of the more abstract trades" KL had to be referring to some of my trades

Good trading to all

TSD
  • #4,439
  • Oct 8, 2012 8:59pm Oct 8, 2012 8:59pm
Ok,

I have two potential trades I have pending orders for. 1st is the Euro/$. Looking at a 30min supply level that is in a decent area of the curve. Risk is fairly small and I am willing to put my money on the line on this one.

2nd is the Aussie/$. This one is a little more tricky. we are creeping closer to a demand level on the daily. I will be trying to catch this supply level on the way down to the daily demand.

Both levels look pretty decent. I will try and update their progress.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSD.jpg Size: 126 KB
Click to Enlarge Name: AUDUSD.jpg Size: 145 KB
PIP'N
  • #4,440
  • Oct 9, 2012 6:34am Oct 9, 2012 6:34am
Morning guys.

Once again, another no brainer for 10 pips with more than a 2:1 ratio. A very high probability setup.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD2.jpg Size: 168 KB
1 trader viewing now